Job Purpose:

Leading the banks strategy and distribution delivery of Bancassurance products covering both General and Life

Principal Accountabilities:

Work Management

Conducting regular and holistic reviews of the insurance landscape and informing banks strategy and plan accordingly.

Conducting partner reviews and running RFPs for preferred partnership alignments that ensure both bank and banks clients’ interest are at the forefront.

Developing the banks product and distribution strategy for General and Life insurance. Maintain and act as SPOC for all insurance partners.

Ensuring the banks financial objectives are met through a holistic distribution plan that includes CPA and channel optimisation.

Ensure compliance with Insurance Authority (IA) and Central Bank UAE (CBUAE) regulations and guidelines.

Ensure that all sales distribution teams are well trained on the products and adhere to all documentation requirements for smooth and error-free execution of investment transactions of the Team

Ensure that all distribution channels conduct detailed risk-assessment and suitability assessment of clients and offer products that are aligned to the client’s profile and needs.

Manage the quality of business to ensure no miss-selling or conduct issues arise that may cause reputational damage to the bank and manage persistency rates of >85%

Take responsibility of providing ongoing service feedback to stakeholders. Ensure that process enhancements are made and all client service requests are resolved timely and in coordination with Investment Operations

Update Head of Wealth Distribution and Head of Wealth Management with regular activity MIS and call reports, sales reports, account management reports, Maintain pipeline of sales prospects.

Manage the inherent conflict in the job requirement – client needs versus achieving revenue targets

Explore cross-sell opportunities within the wider client base for different products and services of the bank.

Ensure compliance to internal and external regulatory requirements

Conduct joint sales meetings with distribution teams to help them in understand insurance products, processes and sales techniques and also to ensure high quality of client interaction.

Train, develop, motivate and lead the teams to deliver high quality performance.